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Board of Governors of the Federal Reserve System OMB Number: 71000036 Federal Deposit Insurance Corporation OMB Number: 30640052 OFCE of the Comptroller of the Currency OMB Number: 15570081 Expires
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The interagency statement on sound is a regulatory document issued by financial agencies that outlines the standards and practices for ensuring the safety and soundness of financial institutions.
All financial institutions, including banks and credit unions, are required to file the interagency statement on sound in compliance with regulatory expectations.
To fill out the interagency statement on sound, institutions must collect relevant data, follow the guidelines provided in the statement, and submit the required information through the designated filing system.
The purpose of the interagency statement on sound is to promote safety and soundness in the financial system by ensuring institutions adhere to established risk management and operational standards.
Institutions must report information related to their risk management practices, operational procedures, capital adequacy, and compliance with regulatory requirements.
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